Thursday, 14 June 2018

Big Data: How It Is Used to Improve Customer Experience & Financial Results

It is the dream of every business management to reduce costs while maximizing sales. Thanks to technology, we have numerous useful tools to achieve these goals. Due to significant integration of systems that aid in proper business operation, most enterprises and organizations now deal with vast data that they need to analyze and interpret to make decisions.

According to an experienced data science expert, they need to take advantage of the big data to make accurate and fact-based decisions to increase chances of better customer experience and financial results. Some businesses have already applied this, and here are some examples.

Amazon

It's a online store that sells a wide variety of items across the world. Since its inception, it has been using big data analysis to increase its relationship with customers. They get data when clients are placing orders, and during the shopping process.This way, they will get the preferences of clients, their shopping trends and other characteristics that will aid them in best meeting customer desires. They now use the Echo Look to increase the accuracy of data collection. The management says that this leads to more sales, which they now double every few years.

MedAware

The healthcare industry is undoubtedly a perfect example of a sector that is embracing big data effectively. MedAware is an excellent example of a company that relies on a data-driven solution. Before they provide prescriptions, their systems have algorithms that scan through medical records of the patients to identify specific trends. The reduction of prescription errors has given them an excellent reputation over time.It is normal to see their facilities flooded with customers who only trust them for treatment. Other medical facilities rely on them to eliminate errors in their establishments. If you run a healthcare clinic, you can improve your finances using their approach.

Duetto

The hotel industry is all about treating clients in the most hospitable way. We have all come across people who complain bitterly if they had a bad experience in a hotel. But, how do hotels manage to know your preferences and special offers no matter which unit of the chain you visit? They have embraced the use of big data management to store and retrieve data about their clients.When a regular customer books, they only have to say a name. This is what Duetto assists hotels and other hospitality institutions in achieving. They also analyze data for hotels to get an idea of when the prices will go down or up. They use previous data to make projections.

AnyRoad

Every business strives to maintain customers and improve their sales. It is the only way it can grow and prosper. However, retaining customers can be an uphill task for most of them. Big data analytics from AnyRoad analyzes ROI and customer trends using specialized software. When any business uses AnyRoad’s approach, they can quickly create follow-up emails and campaigns to show their customers that they do care about customer needs.With such initiatives from these reliable solutions, most businesses have managed to succeed in keeping customers happy and increasing profits. Apart from that, the costs also go down drastically.